Over 6.39 crore ITRs filed for 2022-23 fiscal

New Delhi: Over 26.74 lakh people have filed their income tax returns on Monday until 1600 hrs, taking the total number of ITR filing for assessment year 2023-24 to 6.39 crore.

The last date for ITR filing by salaried persons and entities which are not required to get their accounts audited ends Monday midnight. Last year, about 5.83 crore income tax returns were filed till July 31.

"6.13 crore #ITRs have been filed till yesterday (30th July). 26.74 lakh ITRs have been filed up to 4 pm today (31st July)," the Income Tax department tweeted. The I-T department asked filers to connect on [email protected] if they need any assistance.

Tax experts said that the rise in ITR filing is a reflection of broadening taxpayer base, improved compliance and the efforts taken by the revenue department to check tax evasion. The income tax department has been extensively using information technology and data analytics tools to identify high-risk cases, and initiate enforcement actions in appropriate cases.

It also collects information on Specified Financial Transactions (SFT), above-notified thresholds, relating to cash deposits, credit card payments, purchase and sale of properties, purchase of shares and mutual funds etc. Such information is collected, collated and analysed for computer-aided scrutiny and risk profiling of taxpayers, identification of non-filers and stop filers etc, which in turn helps check evasion.

The government is unlikely to extend the due date for filing of tax returns in non-audit cases. Revenue Secretary Sanjay Malhotra had earlier this month said that the government is not planning to extend the July 31 deadline. Corporates and individuals who are required to get their accounts audited have time till October 31 to file tax returns for income earned in 2022-23 fiscal.

The gross direct tax collection for 2022-23 fiscal grew 20.33 per cent at Rs 19.68 lakh crore.